40-Bank Working Group Established to Guide Launch of the First Blockchain-based Interbank Payments Network
Tassat Group Inc., sponsor of the Digital Interbank Network (The Network), announced that they are in discussions with more than 200 banks about joining The Network, which will enable member banks to execute secure and instantaneous real-time payments and other banking services between their commercial customers, 24/7/365, via private, permissioned blockchains.
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Tassat has contributed intellectual property and protocols to The Network, which will be owned and governed by its member banks. A 40-bank Working Group has been established by Tassat and will meet in early February to help guide The Network to a planned 2022 launch.
Tassat also announced that Kevin R. Greene, its Executive Chairman, has been named CEO, succeeding Ron Totaro. Greene, who joined Tassat’s Board in 2017, and became chair in 2019, has played a hands-on role since Tassat’s formation, including driving the design and launch of the Network.
“Every bank that has adopted Tassat’s technology has experienced tremendous and demonstrable growth,” said Greene. “Signature Bank, TassatPay’s first customer, has seen enormous growth in deposits, customers, and shareholder value since implementing TassatPay® as Signet in 2019. The growth of TassatPay and the Digital Interbank Network will continue to enable banks to compete and win in the emerging and rapidly growing digital economy.”
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Added Greene, “With TassatPay well-established and the launch of the Digital Interbank Network moving ahead, Ron Totaro decided this was the time to transition to his next venture. I’m excited to take on more responsibility at Tassat, building on Ron’s outstanding work in taking TassatPay to a complete blockchain payments solution for banks and their customers while positioning the company for success going forward.”
Greene joins a powerful, experienced leadership team that includes Kevin Lupowitz as Chief Information Officer; Glen Sussman as President and Chief Operating Officer; and, Al Berg as Chief Information Security Officer, leading a 58-person technology team dedicated to delivering best-in-class payments and banking solutions using blockchain technology.
Lupowitz joined Tassat in 2017 and has led the company’s strategic research and development initiatives. He formerly held senior positions leading the technology development efforts at CLEAR, FXall and Liquidnet Holdings. Sussman has more than two decades of experience scaling technology companies, including SundaySky. Berg has held senior positions in technology security for more than three decades, most recently with Endava.
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